I do not doubt that the state can legally steal royalties. State control of any asset is the opposite of property rights. Property rights have been replaced by political whims. This situation works well for Alaska because these mineral rights are nothing more than a tax on the rest of the country. The rest of the country pays higher energy prices so that each Alaska resident can receive a fake royalty check.
The rats are carefully studying the Alaska model. The rats are going to use the same idea to steal royalties. The result nationally will be disasterous. Domestic energy production will fall and energy prices will rise.
I object to you using the word steal. But that’s ok, I just want it noted.
“The rats are going to use the same idea to steal royalties”
I really don’t think so. I think a very strong case against using it can be made. Alaska is unique in many ways. That being so, the issues they have to deal with are unlike the issues we have to deal with, and therefore, also require unique solutions.
The solution Alaska came up with works for them, but , more than likely, would not work for us. You’re the business professor, I’m sure you can see that.
peace.